Wingspan Technology Files IPO Prospectus, Positioning Itself as a Medical Service Provider After Eight Years in Medical Imaging

“Unlike other medical imaging companies in the market,We have defined ourselves as a healthcare service provider from the outset, rather than merely a software vendor for the medical industry, let alone an ordinary IT software company.. All products developed by the company are guided by the philosophy of better serving patients, hospitals, and physicians. Meanwhile, all our products are researched, developed, manufactured, marketed, and serviced in strict accordance with medical device standards, as our systems directly impact physicians’ clinical judgments; we take responsibility for delivering high-quality medical services.”

“This is what Ni Meng, founder of Wingspan Technology, has consistently emphasized in his interview with VCBeat (WeChat ID: vcbeat).” As a startup with eight years of experience in the medical imaging industry, Wingspan Technology has achieved remarkable milestones—from drafting and formulating the “General Standards for Medical Diagnostic X-ray Imaging Equipment” to establishing a strategic partnership with GE. VCBeat has published an in-depth report on how Wingspan Technology attained its current success.

Wingspan Technology, established in 2009, is an innovative provider of digital medical imaging solutions. By integrating computer internet technologies, medical imaging expertise, and healthcare resources, it has revolutionized the landscape of medical image diagnosis.

The company provides a series of solutions and comprehensive professional services in medical imaging, imaging diagnosis, Picture Archiving and Communication Systems (PACS), mobile healthcare, telemedicine, and integrated imaging operations. Through innovation, it leverages the internet to connect imaging equipment, radiologic technologists, and diagnostic physicians, delivering higher-quality, more efficient, and more accurate medical imaging services to patients.

Ni Meng told reporters that Wingspan Technology initially focused on adding Chinese-language tools to the foreign-language operating systems of imported medical devices. As China’s healthcare infrastructure began to improve rapidly in 2009, many foreign-made devices entered the Chinese market, creating opportunities for Wingspan Technology’s growth.

Precisely because Xi'an Wingspan Electronic Technology Co., Ltd. positioned its products from the outset to safeguard high-quality medical services, the company invested nearly all of its revenue during the first two years of operation into establishing a quality management system for medical devices, thereby ensuring that its manufactured products comply with medical device standards.。

During the medical device registration process prior to software release, clinical testing is required, similar to drug clinical trials. This process begins by establishing collaborations with nationally designated Grade 3A hospitals, obtaining approval from the hospitals’ Medical Ethics Committees, and signing contracts with each patient participating in the clinical trial. Additionally, testing and filing must be conducted with national professional authorities, ultimately leading to the acquisition of the CFDA certificate.

Ni Meng told reporters that what sets Wingspan Technology apart from most current companies engaged in internet healthcare is that Wingspan primarily"Providing medical services to the industry can be regarded as a medical institution."Wingspan Technology’s products provide high-quality support for the three core medical activities: examination, diagnosis, and treatment.

Imaging Examination Services: viaSelf-operated imaging centers and third-party imaging centers,Imaging equipment with cloud connectivity provides patients with imaging examination services, as well as transmission and storage of imaging data.

Remote Diagnostic Services: The Imaging Diagnosis Center aggregates multidisciplinary expert resources to provide remote diagnosis and consultations on complex cases for primary-care imaging centers. Wingspan Cloud (WeChat Official Account: wingspancloud) delivers services such as case curation, routine diagnostics, and consultations on complex cases through contracted diagnostic physicians, radiologists, and clinical specialists. Registered radiologist and clinician members can also use Wingspan Cloud for case sharing, content organization, and imaging education.

Therapeutic Services: For patients requiring referral, Wingspan can coordinate with corresponding specialized medical institutions to provide treatment services.

Comprehensive Solutions: Through financial support services provided by Wingspan Technology, small and medium-sized hospitals without immediate procurement plans can access advanced diagnostic equipment and informatized diagnostic solutions without upfront capital investment. This enables local facilities to connect with top-tier medical experts across China via simple terminal device scanning, ensuring more reliable diagnoses and greater confidence in treatment outcomes. This approach rapidly enhances imaging diagnostic capabilities at smaller hospitals, offering an effective solution to alleviate difficulties in accessing medical care and reducing patient overcrowding at major hospitals.

Xi’an Wingspan Electronic Technology Co., Ltd. is a drafting entity for national medical device industry standards. Typically, the formulation of national standards is led by government agencies and universities; Xi’an Wingspan is the only private enterprise to serve as a committee member. In 2012, Xi’an Wingspan invested substantial human and material resources in developing and promoting this standard. Following its release, the company developed testing software based on the standard for use by regulatory authorities during CFDA audits of relevant enterprises in the field. “The development and promotion of this standard were not driven by profit motives, but primarily aimed at addressing interoperability issues among numerous medical device products within the industry. Resolving these interoperability challenges has made remote diagnosis possible.”

Ni Meng told reporters that investment firms are bullish on and have invested in the company precisely because Wingspan Technology’s years of accumulation in the medical imaging field, along with its deep understanding and accurate judgment of the industry, can only be achieved through long-term cultivation. This constitutes the core competitiveness of Wingspan Technology, a technology-driven enterprise.

Over the past eight years, Xi'an Wingspan Electronic Technology Co., Ltd. has grown significantly, with its former competitors exiting the market one after another. This is because Wingspan has consistently positioned itself as a medical service provider.We have never marketed our products as standalone commodities for direct sale. Even now that the Xi'an Wingspan Electronic Technology Co., Ltd. team has grown to a considerable scale, sales are primarily conducted through distributors, manufacturers, and partner enterprises engaged in medical device sales.

Regarding future development, Ni Meng stated that Wingspan will focus on the advancement of artificial intelligence in medical imaging. Currently, physicians rely on their experience when making diagnoses; however, fatigue and lapses in concentration are inevitable, leading to potential oversights. The AI solutions developed by Wingspan Technology provide evidence-based rationales for diagnostic conclusions, enabling physicians to make well-founded decisions and thereby reducing the rates of misdiagnosis and missed diagnosis.

Xi'an Wingspan Electronic Technology Co., Ltd. has secured tens of millions of U.S. dollars in financing from Softbank China Capital, Matrix Partners China, and Northern Light Venture Capital.